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<br /> � 96�► :��4�?��
<br /> the �roperty in vlolation af any law, �xdinance, or rec�ulation�
<br /> and ehall pay and promptly ciiecharge a� Horrawer's coet and =
<br /> ea►penee all lieno, encumurances �nd charges levied, imPosed ar
<br /> �geeaserl ag�in9� �he P�o�►er.�y or �ny part �hereaEo
<br /> ts. �;sr,inent ucmaan. L�nder is nerei�y a9�agned a3i =
<br /> campeneation, awarde, damageo an�d other payments or relief
<br /> (hereinafter "Proceeds") in canneation with condemnation or other
<br /> tak�.ng of the Property ox part thereof, ar for conveyance in lieu
<br /> of condemnation. Lender ehall be er�ti.�lad, at �te opt�.on, to -
<br /> commencs, appear a.n and gyrosecu�e in ite own name any aa�ion or
<br /> proceedinga, and phall aleo be entit�.ed to malce any compromise ar
<br /> settl.ement 3n connecti.on with such �aking or damage. Tn the
<br /> evont any portion of the Proper�y ia so kaken or damaged, Len,der
<br /> ehal]. have the option, in its sole enc� ahsolute c3i�cre�3on, to
<br /> apply all auch JProceeds� after deducting thereErom all coste and
<br /> expensss incurred by it 3n connection cJith �uch Prococdr, upon
<br /> any i.ndebteclness �ecured r�ereby and in such order as Lsnder may
<br /> determine, or to apply al1 such Proceeda, aftier. such deductions,
<br /> to the restoration of the Proper�y upon auch condi�iona ae Lender
<br /> may determine. Any appliaation of Procesde to l.ndebtednees ahall
<br /> not e�etend ox postpane the due date of any payments under �he
<br /> Note, ox cure any default thereundex or hereundEr.
<br /> 7,. Performance by �ender. In �the event of Borrower's
<br /> failure �o perform any ot the covenan�a herein or make any Q�y-
<br /> menta requi�ed hereby, or i£ any act ie taken or legal pr,oceeding
<br /> cn�mrr�Ant��?�7 whi�h ma*Ari al 1 v a�fg�*g T.pn�iwr�a i nf�carcagft i n r}Z.�
<br /> Prvpex�y� Lender may in ito awn diecretion, but without obliga�
<br /> t3on to do sop and w3thoLt notice to or demand upon Borro��er, and �
<br /> w�.thout re]Leasing Borrower from any obliqation, dn any act which
<br /> �the eorrower hao agreed but fails to do and may also do any► other
<br /> ac� it deems ne�o�ssary tio p�otec� the security hereof. Borrower
<br /> shall, 3.mmedia�ely upan demand therefor by Lender, pay �a Lender
<br /> all aosts and expenses inaurred and eume expended by Lender in
<br /> connect�Ion with the exerc:ise by Lender of �he foregoing riqhta,
<br /> together wi.th in�ereat thereon at the default ra�e provided in
<br /> �che No�e, which shall be added to the nde tedness secured
<br /> hereby. Lender ehr�ll not incur any lifnbil�ty becauae of anythir�g
<br /> i� may do ox omit �o do hereunder.
<br /> 8. Hazard�us Ma.terials. BorrQwer sY�all keep the
<br /> Property in compl ance with any and all federal, state and local
<br /> Lawa, ordinan�es and xegulatione relat�.ng to industxial hygiene
<br /> or to envi.r�nmental. cond3tiona on, under or about the Proper�y,
<br /> includ3.ng, but not lin►ited to, seil and groundwater c�ndi�ions.
<br /> 'I°r.u+�ic�i• �Iia3.i iivi ur�c� ycnnraza� manufacture� sLOr� or dieNortt3 0= .
<br /> on, under �r about the Property or trzansport to ox from the
<br /> Property any tlammable exploaives, radiaactive materials, hazardous
<br /> wastes, �oxia aubatances or related materials, including, without
<br /> limitation, any substances dofined as or included in the defini-
<br /> tion of "hazardous sube�ances", "hazardoun wae�es", "ha�ardous
<br /> mataria�.s" or "toxic aubetances" under any appliaable lawo,
<br /> ordinances or regu'lations (collectively referred to heraina£ter
<br /> as "Hazardous Materials") . Borroc�r�r hereby warrantis and repre- .
<br /> sents to I,ander that there are no Hazardous Materials on or under
<br /> the Property. Ba�rrower hereby agreea to indemn3.fy and hold
<br /> ha.rmless Lender, its directdrn, officers, emp�oyees and agents.
<br /> and any ouccesaors to Lender's interegt, from and againat any and
<br /> �tll �Iaim�, darnages and IiaDili�iea arieing in connection with
<br /> the Qresenoe, use, atiorage, disposal or transporti of any Hazardous
<br /> Materials nn� unc3�,r� Frmm �r ahn»4_ *hn Drn=nr�f� i n_l.�a�r�� �,9 Mt�_
<br /> out limitation, (a) all dantagea directly or 3ndirect�.y arieing
<br />= out of the usa, generation, s�orage or disposal of Hazardoue
<br />- Materiale by Borrower or any prior owner or aperata� o� tho
<br />� Property, and (b) all cos�s of any requ�.red ar neceaeary repair,
<br />- cleanup or dQtoxification and �he preparation of any closure or
<br />� othor requ3red �lane, whether such act3on ie required or necea-
<br />� eary prior �a or fo].lowing transfer of titln to the Proper�y, to
<br /> t•he full extent that auch action is attributable, directlX or
<br /> indirec�ly, to th� prenenca or use, generatiom, s�orage� selease,
<br /> threatened release or disposal of Hazardous Materials by any
<br /> pexaon on the Proparty prior to tranefer of. t3tle thereto by
<br /> _3_
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